Popularly known as SAIF zone, Sharjah Airport International Free Zone was set up in 1995. It is located adjacent to the Sharjah International Airport. It is huge, and houses about 6000 companies hailing from over 90 countries. It also has a very strategic location and is situated at crossroads between major trade routes that link the east to the west. In addition to this, it is located close to the Sharjah International Airport and forms a major hub for cargo.
Benefits of Setting Up a Company in SAIF Zone
SAIF zone company formation makes sense due to the unparalleled convenience and availability of cutting-edge facilities. SAIF zone offers single window operation and unmatched work efficiency where all the service related formalities (like banks, customs, courier, post office, restaurants, etc.) are provided under single roof, saving investors’ valuable time and money.
The benefits of setting up a business in SAIF zone are:
- SAIF zone has access to over 2 billion customers (across the Asia, Africa, Mediterranean, Europe and CIS & GCC continent), because of excellent air, land and sea connectivity.
- SAIF zone has superb business logistics due to the presence of unique 'trade bridge', leading to considerable time and cost savings.
- SAIF zone allows for 100% exemption from personal income and corporate taxes, 100% foreign ownership, and 100% repatriation of capital and profits
- In SAIF zone, there is competitive fee structure of property and management
- SAIF zone has access to post office, international banks, workshops, international couriers, restaurants, advanced transportation facilities, and legal services
- SAIF zone features fully furnished and AC-fitted pre-built offices and warehouses for light assembly activities
SAIF Zone – Legal Entities
Registration and licensing procedures in SAIF zone are hassle-free and offer single window operation to all investors. Permits and licenses are issued in this free zone within 24 hours of requisite document submission to keep the administrative red tape and procedural hazards to a minimum. An individual or a corporate entity can register or set up business in SAIF zone in any of the following legal forms:
- Branch of a Foreign Company
- Branch of a UAE/Local Company
- Free Zone Establishment (FZE): Entity with a single shareholder
- Free Zone Company (FZC): Entity with multiple (2 to 5) shareholders
Documents Required for SAIF Zone Company Formation
The documents required for Sharjah Airport Free Zone company formation are:
- Proof of tradename reservation
- Proof of initial approval for the activities
- Passport copies of the shareholders
- Passport copy and CV (resume) of the manager
- Personal Information sheet for each shareholder and manager
- Lease agreement documents (having a physical address for your business/office is mandatory in the UAE)
- Notarized and attested power of attorney
Certain additional requirements applicable for corporate shareholders are:
- Attested and notarized Memorandum of Association/Article of Association. It must be attested from the UAE Embassy at the place of origin
- Board resolution to be resolute by the board of directors for your existing company/ entity at place of origin expressing intent of establishing a new setup abroad. Must be attested and notarized by the U.A.E Embassy
- Certificate of registration (if applicable) for your existing company/entity, license or certificate of incorporation your existing company/entity attested and notarized by the UAE embassy
Types of Licence in Sharjah Airport International Free Zone
Based on the type of business activity a company is wishing to start in Sharjah Airport International Free Zone, investors can opt from among the following types of licenses:
- Trade/Commercial License: It allows investors to trade (import, export, distribute and consolidate) products mentioned in the license as per the Sharjah Airport Free Zone rules and regulations
- General Trading License: It allows investors to trade in a large number of products categories. This license can be obtained under the commercial license
- Industrial License: It allows investors to assemble, process, manufacture, distribute, import, and store goods as per the rules and regulations of Sharjah Airport Free Zone and export the finished product to any foreign country
- Service License: It allows investors to carry out certain services (lawyer firms, accounting firms, and business consultants) within the SAIF zone
Business setup in Sharjah Airport Free Zone is a multivariate process which is bound by specific rules and regulations, and includes documents and proposal submission, paying the fee and receiving the approval, and receiving the business license, lease agreement and keys to the premises. Our team at Business Setup Worldwide helps you with the acute planning and decision making through the different business incorporation phases helping you go through the entire procedure with confidence.